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Listed by Brett Lyon • Lyon Stahl Investment Real Estate, Inc.
$4,750,000
Est. payment /mo
7,937 SqFt
Active
2306 3rd Street Santa Monica, CA 90405
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UPDATED:
01/23/2025 02:00 AM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,937 sqft
Price per Sqft $598
MLS Listing ID CRSB24155287
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1924
Lot Size 6,219 Sqft
Property Description
Situated in the picturesque Ocean Park neighborhood of Santa Monica, 2306 3rd Street stands as a rare gem for investors seeking a prestigious addition to their portfolio. Sitting on a double lot, this legacy 12-unit property features an eclectic mix of residential options, including (1) 4-unit building, (1) duplex, (1) single-family residence with an attached studio, and (4) detached bungalows. With a unit mix of (3) 2-bed/1-bath, (8) 1-bed/1-bath, and (1) studio, the property offers a total of 7,937 square feet of rentable space on a generous 12,703 square foot lot. Boasting a 4.47% CAP rate and a market CAP rate of 6.67%, the investment potential is substantial. Residents enjoy the perfect blend of comfort and convenience, enhanced by the property's prime location. Positioned just blocks from the beach and within walking distance of top-tier retail and restaurants, 2306 3rd Street benefits from its enviable location between Venice Beach and Downtown Santa Monica. Whether you're seeking steady returns or aiming to capitalize on the area's dynamic growth, this property represents a compelling opportunity in coveted location.
Location
State CA
County Los Angeles
Interior
Heating None
Cooling None
Fireplace No
Laundry Other
Building
Water Public
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